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The Latest Breaking News from FTX

Footballer Ronaldo faces $1bn+ class action lawsuit for promoting Binance to unwary customers, and he's still doing it

The forward says he and Binance are currently "cooking something up".

PC Gamer

What is the $1 billion lawsuit facing Cristiano Ronaldo?

Football star being sued for Binance endorsement

Evening Standard

FTX and Binance: how latest crypto scandals could influence public opinion on digital currency regulation

True believers in cryptocurrency have had a rough few weeks. The US government just fined Binance – the world’s largest crypto exchange – US$4.3 billion (£3.4 billion) for its involvement in money laundering.

The Conversation

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Cristiano Ronaldo faces $1bn lawsuit for promoting NFTs

Ronaldo has been hit with a billion dollar class-action lawsuit over his role in promoting the beleaguered cryptocurrency exchange Binance

The Independent UK

Pro-crypto Majority Whip Tom Emmer denounces CBDCs as a ‘surveillance tool’ and calls for stablecoin oversight

Speaking about Tether, Emmer said, “We need to have this stuff here.”

Fortune

Cristiano Ronaldo faces $1B class-action lawsuit for promoting for Binance NFTs

Portuguese soccer star Cristiano Ronaldo has been hit with a billion dollar class-action lawsuit over his role in promoting cryptocurrency-related “non-fungible tokens,” or NFTs, issued by the beleaguered cryptocurrency exchange Binance

The Independent UK

FTX Wins Court Approval To Sell Nearly $900M Worth Of Grayscale, Bitwise Trust Assets

FTX's stakes in these trusts would be sold in a manner that increases their value and does not impact the broader digital investment market, the court filing read.

International Business Times

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MLB and Formula 1 targeted in new, multibillion-dollar suit over their promotions of FTX now that judges ‘updated the laws for the internet age’

The lawsuits also take aim at Cristiano Ronaldo, Mercedes-Benz, ad giant Dentsu, and global talent agency Wasserman.

Fortune

Bankman-Fried forced to trade mackerel for prison haircut

The tinned fish is reportedly one of the most popular items from the jail commissary

The Independent UK

Binance Founder Zhao’s Wealth Fluctuates Amid Resignation And $4.3B Settlement

Changpeng Zhao's fortune sees ups and downs as he steps down from Binance and faces hefty fines.

Zenger

Binance CEO Steps Down Amid AML Breaches, Investor Eyes Compliant Alternatives

Changpeng Zhao's resignation and $50 million contribution follow regulatory settlement, Kevin O'Leary recommends M2 Exchange

Zenger

Regulators and law enforcement crack down on crypto's bad actors. Congress has yet to take action

While the scandals in the cryptocurrency industry seem to never end, Washington policymakers appear to have little interest in pushing through legislation to codify the structure of the industry

The Independent UK

Binance saw $800 million in outflows after news broke of Changpeng Zhao’s plea deal. Experts say it could have been much worse

The company saw $800 million of outflows in some of the largest cryptocurrencies over the past day.

Fortune

Another one bites the dust: Binance CEO quits as both he and the company plead guilty to money laundering charges and accept whopping $4.3 billion fine

Changpeng Zao founded the company in 2017, and it's since become the world's largest crypto market.

PC Gamer

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news in one place.

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Fortune

Binance avoided a death sentence—but the slow bleed is yet to come

The long-awaited settlement with the crypto exchange avoided FTX territory.

WEKU

CZ, founder of crypto giant Binance, pleads guilty to money laundering violations

Changpeng Zhao agreed to plead guilty to money laundering charges and step down from Binance as part of a sweeping settlement with the Department of Justice and top regulators.

The Conversation

OpenAI’s board is facing backlash for firing CEO Sam Altman – but it’s good it had the power to

The sudden removal of OpenAI CEO Sam Altman on Friday was met with shock and disapproval by the company’s employees. More than 90% signed a letter threatening to leave OpenAI if the board didn’t resign and reinstate Altman – who has since apparently been poached by Microsoft, along with a…

Fortune

SEC alleges in new lawsuit that Kraken failed to register and commingled customers’ funds

Kraken settled with the SEC earlier this year over its crypto staking business.

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Fortune

OpenAI's crackup is another black eye for effective altruism

Effective altruism—made famous by Sam Bankman-Fried—is back in the news for all the wrong reasons.

WEKU

He lost $200,000 when FTX imploded last year. He's still waiting to get it back

The crypto mogul Sam Bankman-Fried has been tried and convicted of orchestrating one of the largest financial frauds in history, but little has changed for people who lost billions when FTX collapsed.

Foreign Policy

Why Did America’s Elite Keep Falling for Crypto Frauds?

Even experienced journalists got suckered by Sam Bankman-Fried.

Fortune

Solana is up 35% over the past week, adding to its 2023 rally of better than 500%

Exchange-traded products tracking the cryptocurrency saw $12 million in inflows last week, according to CoinShares.

Fortune

As Sam Bankman-Fried awaits his prison sentence, spotlight shifts to 'Barb and Joe'

Bankman-Fried's parents remain in the news after their son's fraud conviction.

Fortune

Sins of the father: Could Joe Bankman go to jail for helping his son run FTX?

“They were living high on the hog while advising a bunch of twentysomethings who had no idea what they were doing,” said a a white-collar defense specialist.

The Guardian - US

Trump and SBF blamed their accountants – but your taxes are your responsibility

We business owners can’t just shrug and say it’s the accountant’s job – it’s our signature on those forms

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